*****AND MORE NEWS*****
Factual Data Corp. Acquires Credit Reporting
Division of Landmark Financial Services, Inc.
Six Acquisitions Completed Year to Date, for a Total of $9.5 Million in New Business
LOVELAND, Colo., Oct. 8 /PRNewswire/ -- Factual Data Corp. (Nasdaq: FDCC - news, FDCCW - news), a national
provider of customized information services to the mortgage and consumer lending, employment, and real estate rental markets,
today announced that it has acquired the credit reporting division of Landmark Financial Services, Inc., of Dallas, TX, bringing
the number of acquisitions since the close of the company's public offering to six. Territories included with this acquisition are
Texas, Arizona, New Mexico and Oklahoma. This acquisition is in keeping with the Company's industry consolidation plan.
Landmark Financial Services, Inc. had been a system affiliate (franchisees or licensees) of Factual Data Corp. prior to the
acquisition. The operation will remain in its current location and will become Factual Data's South West processing Center. Key
personnel are expected to continue their employment with Factual Data. The trailing 12 months' revenues for the acquisition as
of June 30, 1998 were approximately $2.5 million. The terms and conditions of the transactions were similar to the Company's
other acquisitions made over the past 12 months.
In commenting on these events, J.H. Donnan, President and CEO, said, ''When we targeted our acquisitions for the year, this
one was at the top of our list. This transaction opens more markets than any of our previous acquisitions. As we implement our
marketing strategies and offer enhanced services we will begin to realize the full potential of this market. We are anxious to
introduce our emerging business lines, EMPFacts employment screening and Tenant Qualifier services to these active markets.
Our industry consolidation plan continues to show its strength by adding value and enhancing our diversification.''
Factual Data Corp., is a Loveland, CO-based information services provider to the mortgage and consumer lending industries,
employers, landlords and other business customers located throughout the United States. The Company markets its services
nationally through 45 combined locations, including Company operated offices, franchisees and licensees. The Company is in
the process of implementing a consolidation plan in the Mortgage Credit Reporting business. Factual Data's initial public offering
took place in May 1998 and its common stock and warrants trade on the Nasdaq SmallCap Market under the symbols FDCC
and FDCCW.
''Safe Harbor'' Statements under the Private Securities Litigation Reform Act of 1995 - With the exception of historical
information, the matters discussed in this press release are forward looking statements that involve a number of risks and
uncertainties. The actual future of the Company could differ significantly from those statements. Factors that could cause or
contribute to such differences include, but are not limited to, changes in interest rates; the continued market demand for the
Company's services; the effects of seasonality in the housing market; competition; contingencies associated with year 2000
compliance; and the success of the Company's consolidation plan. |
